Editor’s Note
This analysis highlights a potential inflection point for lab-grown diamonds, as the steep price declines of recent years show signs of moderating. While the long-term trend remains downward, the significantly slower rate of decrease in 2025 could signal a new phase of market stabilization.
The latest Lab Diamond Wholesale Price List released by diamond industry analyst Edahn Golan shows that the global wholesale price of lab-grown diamonds fell by an average of 26% in 2025 compared to the previous year.
The report notes that 2025 saw a shift in the wholesale price trend for lab-grown diamonds, which may represent a significant turning point for the category. Although the long-term downward trend continues, the rate of decline has slowed significantly. The price drop in the fourth quarter compared to the third quarter was 4.7%, the smallest quarterly decline since lab-grown diamonds entered the market.
The price performance of lab-grown diamonds varied significantly by carat weight. The price of 3-carat round diamonds fell most sharply, down 32% at the end of 2025 compared to the end of 2024. In contrast, the price of 1.50-carat diamonds fell by only 8% year-on-year and actually increased by 11% compared to the third quarter of 2025.
Rising costs for High-Pressure High-Temperature (HPHT) lab-grown diamond rough have reshaped pricing dynamics in some market segments.
Following this, wholesale prices for smaller-carat lab-grown diamonds rose by 10%-20%. This move initially stabilized the wholesale prices of polished lab-grown diamonds and subsequently led to further price increases.
Currently, the HPHT process dominates the market for polished lab-grown diamonds of 1 carat and below, and its share in the 1.50-carat category is growing. As the producible carat weight of HPHT rough gradually increases, it is expected to gradually influence the pricing of larger-carat polished lab-grown diamonds.
After nearly a decade of sharp and continuous price declines, the lab-grown diamond market appears to be entering a period of adjustment. This shift is reflected not only in prices but also in demand: as the category moves past its early volatile phase, the growth rate of demand has slowed.
For smaller-carat diamonds, prices may continue to rise modestly. Although the increases remain relatively mild, the effects of rising HPHT production costs and stricter pricing discipline among producers are beginning to show—a stark contrast to the sustained downward pressure the market had long been accustomed to.
Larger-carat lab-grown diamonds present a different trend: prices are expected to stabilize rather than rebound. This is because manufacturers continue to increase supply in the 2-3 carat range, and growers are focusing on improving the color and clarity grades of diamonds. Competition in the large-carat lab-grown diamond market will not disappear, but as the market gradually enters a more stable state, the pace of price changes appears to be slowing.
Edahn Golan has 25 years of experience in diamond industry analysis and is regarded as a top expert in the operation of the diamond supply chain. His extensive client list covers all major companies in the industry, the most well-known consulting firms, and numerous financial institutions. His first Lab Diamond Wholesale Price List was launched in 2018 to meet the industry’s demand for transparency and track price trends in lab-grown diamond transactions.
The price list initially focused only on low-cost, uncertified diamonds but now includes larger-carat, certified diamonds in its benchmark statistics. Current data shows that diamonds of 2 carats and above are primarily grown using the Chemical Vapor Deposition (CVD) method, while the transaction prices of smaller-carat HPHT lab-grown diamonds typically carry a discount.